Photo: Courtesy of NextDecade

NextDecade, Bechtel extend Rio Grande LNG deal validity

US LNG export project developer, NextDecade Corporation has extended the validity of the EPC deal for its Rio Grande LNG project.

NextDecade, Bechtel extend Rio Grande LNG deal validity
Courtesy of NextDecade

The company said on Monday, 8 March, that with Bechtel it has completed a pricing refresh on the fully wrapped lump-sum turnkey (LSTK) engineering, procurement, and construction agreements for the first three trains at NextDecade’s Rio Grande LNG project.

The pricing in the EPC agreements is currently valid until December 31, 2021, NextDecade said.

Additionally, the two companies agreed to extend the validity of the EPC agreements until July 31, 2022.

Matt Schatzman, NextDecade’s chairman and CEO, noted that the engineering and procurement activities are progressing under limited notices.

“We look forward to providing Bechtel with a full notice to proceed with the development of this world-class project immediately following FID,” Schatzman said.

NextDecade anticipates achieving a final investment decision on a minimum of two trains at Rio Grande LNG in 2021.